Oil and Fuel Stocks Surge, Surpassing Expectations
TL;DR
The U.S. Energy Information Administration (EIA) reported a significant build in oil and fuel stocks, with oil inventories increasing by 2.9 million barrels, gasoline inventories adding 2.7 million barrels, and middle distillate stocks rising by 1.5 million barrels. This comes amid security concerns in the Red Sea, leading to rerouting of shipping routes and increased military presence in the region. Crude oil prices moved lower in response to the inventory increase.
- EIA Reports Significant Build in Oil and Fuel Stocks OilPrice.com
- U.S. Crude Oil, Gasoline Stocks Rise as Refineries Ramp Up Runs The Wall Street Journal
- Crude inventory increased by 2.9M barrels for week ended Dec. 15 - EIA (CL1:COM) Seeking Alpha
- Oil - private survey of inventory shows headline build vs. draw that was expected ForexLive
- Oil inventories rise by 939,000 barrels last week: API By Investing.com Investing.com
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